Sales debate: Will Porsche 996 GT3 values overtake 997s?
Originally, this started out as investigation into when 997 GT3 prices would begin to rise however, as RPM Technik’s Sales Manager, Greig Daly points out, “they’ve already started [to rise]. 997s hit their bottom last year and cars that we were trading for early £50,000s are now selling for mid-to-late £60,000s.”
While 997 GT3 prices have gradually be increasing over the last 12 months, 996 GT3 values have rocketed in the same time period, to the extent that some sellers in the classifieds are chancing their arm with asking prices on the cusp of six figures.
But, do the GT3 retail experts at RPM Technik and Paragon expect the 996 GT3 to regularly exceed the 997 version in the valuation stakes?
“When they [996s] slipped as low as £30,000, it was just nuts. That car is absolutely outrageous and it was just too cheap,” Daly explains. “Gradually the best ones rose up to £40,000 and that dragged the rest of them up; it’s simple economics of supply and demand but everyone just woke up at the same time.”
Daly feels the reason for the 996 GT3’s ever-increasing popularity is its ability to withstand hard track work. However, despite “a few people chancing their arm” he’s unconvinced that values will continually eclipse those of the 997 GT3:
“Perhaps [996 values will rise above 997 GT3s], I wouldn’t be surprised because nothing surprises me anyone more in the modern classic market but, is it a better car [than a 997 GT3]?”
Jamie Tyler, head of sales at Paragon, initially answers with a definitive “no” but, on further consideration of the question he explains, “it’s difficult to tell; it’s what people are prepared to pay for the good cars”.
Tyler does feel that the few 996 GT3s currently on the market at £80,000 to £90,000 are “not worth anywhere near that”. Both him and Daly would value such cars in the current climate at around £55,000-£60,000.
However, Tyler can see why the car is enjoying a resurgence. “They were the last of that real, hardcore driving car,” he explains, “whereas the 997 has got electronic dampers and traction control was introduced which, personally, I didn’t think the GT3 should have.”
While both agree some 996 GT3 values are currently optimistic, the hardcore experience provided by the car is seeing it catch up the 997 on the open market. At some point rarity may play into the 996’s hand but, until then, the 997 continues to rule the roost.
If you’re looking to buy any generation of Porsche 911, check out our full selection of sales debates, where we ask the 911 experts the pertinent market questions so you don’t have to.